Bernstein Initiates Coverage of AutoZone with Outperform Rating
Fintel reports that on September 29, 2026, Bernstein initiated coverage of AutoZone (NYSE:AZO) (BMV:AZO) with a Outperform recommendation.
AutoZone, Inc. is a leading retailer and distributor of automotive replacement parts and accessories, based in the United States. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates primarily in the automotive aftermarket industry. AutoZone's extensive network comprises over 6,000 stores across the United States, Mexico, and Brazil. The company focuses on providing both DIY (do-it-yourself) customers and DIFM (do-it-for-me) professional installers with a wide array of automotive parts and services. Key projects and initiatives include the expansion of its Mega Hub stores, enhancement of its digital platforms for better customer service, and commitment to inventory availability and delivery speed, ensuring it maintains a competitive edge in the market.
Prior to this rating action, AutoZone's stock closed at $2,913.28 on September 28, 2026. This close represents a price change of +3.93% over one week, compared to a baseline close of $2,803.25 on September 21, 2026. Over a one-month period, the stock experienced a price change of -1.64% from a baseline close of $2,961.96 on August 28, 2026.
AutoZone recently reported its latest earnings on September 22, 2026. The company posted an actual EPS of 56.05, which exceeded the estimated EPS of 54.4026, representing an EPS surprise of +3.03%. The actual revenue for the period was $6,594,879,000.00, compared to the estimated revenue of $6,767,397,738.00.
Separately from Bernstein's individual rating, the current consensus target mean for AutoZone was $3,997.20 as of September 15, 2026, with a median target of $3,975.96. This mean target represents an implied change of +37.21% from previous levels. The prior consensus target mean was $4,036.61 as of August 28, 2026, reflecting a consensus target revision of -0.98%. In terms of aggregate analyst recommendations, the current period starting September 1, 2026, shows a total of 32 recommendations, consisting of 9 strong buy, 17 buy, and 6 hold ratings. This represents a positive recommendation percentage of 81.3% and a hold percentage of 18.8%. In the prior period starting August 1, 2026, there were 31 total recommendations, including 9 strong buy, 16 buy, and 6 hold ratings, representing a positive percentage of 80.6% and a hold percentage of 19.4%.
Other analysts have also recently updated their outlooks on AutoZone. On September 28, 2026, JP Morgan maintained its Overweight rating. On September 23, 2026, several firms maintained their ratings: Roth Capital maintained its Buy rating, Barclays maintained its Overweight rating, BMO Capital maintained its Outperform rating, Mizuho maintained its Neutral rating, and TD Cowen maintained its Buy rating.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 29, 2026 | Bernstein | Outperform | initiated coverage | |
| September 28, 2026 | JP Morgan | Overweight | Overweight | maintained |
| September 23, 2026 | Roth Capital | Buy | Buy | maintained |
| September 23, 2026 | Barclays | Overweight | Overweight | maintained |
| September 23, 2026 | BMO Capital | Outperform | Outperform | maintained |
| September 23, 2026 | Mizuho | Neutral | Neutral | maintained |
| September 23, 2026 | TD Cowen | Buy | Buy | maintained |
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This story originally appeared on Fintel.